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SAN FRANCISCO -- Pay By Touch, a biometric authentication payment solutions company, acquired the assets and intellectual property of 7th Street Software Inc. and Convena LLC, two loyalty technology providers that will help bolster Pay By Touch’s loyalty offerings.
"The acquisition of these customized loyalty technologies enhances Pay By Touch’s promise of convenience while also shifting from mass, product-based marketing to a more individualized customer approach," said John Rogers, founder, chairman, and CEO of Pay By Touch. "These loyalty applications complement the Pay By Touch brand promise to make shopping more convenient by allowing shoppers access to customized rewards and discounts with the touch of a finger right in the store."
7th Street Software is the developer of LoyaltySuite, a sophisticated, patent-pending technology that helps retailers automatically give shoppers relevant, personalized offers on the products they purchase most. The Convena LLC assets will add another layer to Pay By Touch’s loyalty offerings.
Retailers and manufacturers will also benefit from the acquisition, providing more efficient tools for managing inventory, improving marketing channels, and offering more individualized customer service. The acquisition also positions Pay By Touch to offer back-end Web-based services from 7th Street Software, which include communication-staging services that support multiple digital communication channels.